Alma record. (Alma, Mich.) 1878-1928, 1887-12-16
be . larr. mar. OF sh.s. bonds held a. In,

that the present bonded debt might DO
refunded at less rate of interest aud the
difference between the old and new securi-
ties paid in cash, thus finding use for the
surplus In the treasury. The success OF
this plan, IL Is apparent must be founded
upon the volition of the holders OF the pres
ent bonds and IL is not entirely certain
that the inducement which must be afford
cd them would result in moro financial
benefit TO the government than the pur-
chase OF bonds, while the latter PROPOSE.
ton would reduce the principal or the
debt by actual payment instead OF ex-
tending It, The proposition to deposit
the money held by the government In
banks throughout the country for use by
the people is, IL seems to me, an exceed
ingly Objectionable principle, ss reaching
too close q relationship between the
operations OF the government TO the busi-
ness OF tho country, and too extensive
commingling OF their money, thus foster
ing an unnatural reliance in private bui-
ness upon public funds. IL this scheme
should be adopted IL should only tie done
as . temporary expedient To meet an ur-
gent necessity. Legislative and execu-
tive efforts should generally be in the OPP
posite direction and should have tenden-
cy TO divorce, as much and as fast as can
safely be done, the treasury department
from private enterprises
OF course il is not expected that unnec-
essary and extrayagant operations Will he
made for the purpose OF avoiding the &C
emulation OF an excess OF revenue.
such expenditures, besides the dsmorali-
cation OF all just conceptions or public
duty which IL entails, emulates reckless
impro violence, not in the least consistent
with the mi sion OF our people or the high
and beneiicent purposes or our govern
ment
LEGISLATIVE RELIEF DEMANDED.
have deemed it my duty thus to bring
| TO the knowledge OF my countrymen, as
well as to the attention OF their represen-
/ ..-.l - L.. L.
relief for the gravity of our financial
| situation. The failure OF the congress
| heretofore TO provide against the dangers
which IL was quite evident the very
nature of the dinculty must necessarily
produce, caused a condition OF financial
distress, and apprehension since their last
al Journment which taxed TO the utmost
all the authority and expedients within
executive control, and these appear now
| to Ice exhausted. IL disaster results from
the continued inaction OF congress, the
responsibility must rest where II belongs
Though the situation thus far considered
is fraught with danger which should be
fully realized, and though II presents
features of wrong TO the people q ell as
to the country, it 10 but result growing
out OF a perfectly palpable and apparent
cause, constantly reproducing the same
alarming circumstances congested ma.
tionai treasury and depeted monetary
condition in the business OF the country.
IL need hardly be Stated that while the
present situation demands a remedy, We
can only be saved from predIcament in
the future by the removal OF the cause.
y scheme OF taxation by means OF
which this needless surplus Is taken from
the people and put into the public treas
ury consists OF u tarlf or duty levied
upon lmportatlonS from abroad anu in
ternal revenue taxes levied upon the con
sumption of tobacco and spirituous and
malt liquors. 1t must Toe conceded that
none of the things subjected To internal
revenue taxation are strictly speaking.
necessaries; there appears to be no just
complaint VI this taxation by the consum-
erS OF these articles, and there seems 10 he
nothing we'll able to bear the burden
without hardship To any portion OF the
people But our present tariff laws-the
various, inequitable and illegal source OF
unnecessary taxation-ought 10 be- at
once revised and amended
THE EFFECT OF PROTECTION.
The laws, as their primary and plain
effect raise the price TO consumers OF all
articles imported and subject to duty toy
precisely the sum paid for such duties.
Thus the amount of the duty measures
the tax paid 10y those VINO purcha,e for
use these imported articles Many Of
these Things, however, are raised or
manufactured in our own country, and
the duties now ievled upon foreign goods
and products are called protection 10
tie nome manufacturers. because they
render IL possible for those OF our people
who are manufacturers 10 make these
taxed artlc.vs and sell them for n price
equal to that demanded for the lmpo ted
goods that have paid customs duty. So
II happens that while comparatively a
few use the imported articles, millions OF
our people who never use anu never saw
any ot the foreign products, purchase
and use things OF the same kind made in
this country, and pay therefor nearly or
quite the same enhanced price which the
duty adds 10 the imported articles.
Those who buy imports pay the duty
charged thereon into the public treasury,
but the great majority Of our citizens,
who buy domestic articles of the same
class, pay IA sum at least approximately
equal TO this duty to the home manutac-
turers. This reference TO the operation
OF our tariff laws Is not made by way of
instruction, but in order that we may he
constantly reminded OF the manner in
which they impose burden upon those
who consume domestic products as well
as those who consume import articles,
and thus create tax upon al our people.
10 is not proposed TO entirely relieve the
country OF this taxation. IL must he ex.
tenslveiy continued as the source OF the
governm -nt's income; and in a read Just
ment OF our tarin the Interests Of Ameri-
can labor engaged in manufacture should
be carefully considers as well as the
preservation OF our manufactures. Ii
may be called protection, or by any other
name, but relief from the hardships and
dangers of our present tariff laws should
be devised with especial precaution against
importing the existence OF our manufac-
turing interests. But this existence should
not mean condition which, without re-
gard TO public welfare or national ex-
igency, must always insure the realization
OF immense profits instead of moderately
profitable RETURNS. As the volume and
diversity of our national activities in
crease, new recruits are added to those
who desire a continuation of the advan.
tages which they conceive the present
system of tariff taxation directly affords
them. SO stubbornly have all efforts to
reform the present condition been resisted
by those OF our fellow citizens thus en-
gagged that they can hardly complain OF
the suspicion, entertained 20 a certain
extent, nthat there exists an organized
combin ton all along the line Co maintain
their advantage.
We are in the midst OF centennial cele-
brations, and with becoming pride we re.
joice in American skill and ingenuity, in
American energy AMI enterprise and in
the wonderful natural advantages and
resources developed by centurys ma
tional growth Yet when an attempt is
made to Justify II scheme which permits a
tax to he laid upon every consumer in the
land for the benefit OF orr manufacturers